Free Professional Advice, April 30

Tuesday, April 30, 2013 2:00 p.m. – 4:00 p.m.

Georgia Regents University

JSAC Breezeway

2500 Walton Way, Augusta, GA 30904

Financial literacy experts will be on hand to help folks learn how to manage money with tips on saving, planning for the future, and staying out of debt.

FREE PROFESSIONAL ADVICE!!!

*Consumer Credit Counseling Service  *Equifax    *Capital City Bank

*Georgia Bank and Trust   *GRU Business College   *SRP Credit Union

*State Farm Insurance  *GRU Financial Aid  *Health Center Credit Union

And more!

OPEN TO THE PUBLIC

For more information, please call 706-722-4494

 

SALES TAXES ARE LOWER

Augusta, Georgia announced that the sales tax receipts for February 2013 were 4.91% lower than February 2012.

“There have been several significant changes made to sales tax law by the State Legislature in the past year. Because of those changes we are expecting to see decreases in our collection rates,” comments Mayor Copenhaver. “This is just one of the challenges that we face, but I have the utmost confidence in our management and finance team to continue to make Augusta a great place to live, work and play.”

AUGUSTA ECONOMIC COMMENTARY

COURTESY: GRU AUGUSTA HULL COLLEGE SCHOOL OF BUSINESS

In November, the Augusta Leading Economic Index (LEI) decreased 0.2% from October. The index is up 4.1% from November 2012.

Locally, housing permits issued in the Augusta MSA increased 17% from October and initial claims for unemployment insurance were down 13 percent. The variables that negatively impacted the index were the Dow Jones Industrial Average and job openings. The Bureau of Labor Statistics reported that there were 2.8% fewer job openings in the South in November than in October.

Employment continues to grow in the Augusta MSA. In November there were 3,000 more jobs than in May (which was the lowest level of employment since January 2002). The chart below indicates which sectors of the local economy are increasing employment. I have color coded the chart – green for increasing employment, orange for no change, and red for decreasing employment – so a glance can give a quick indication of the state of the labor market. More green is better! A closer inspection of the numbers reveals more detail on the local economy. Except for the first row, all the data are not seasonally adjusted, so the monthly changes indicate some seasonal patterns in employment. For example, retail employment increased by 4.6% in November as stores geared up for the Christmas shopping season. However, retail employment was lower in 2012 than 2011, reflecting the longer term trend of more online shopping and less in bricks and mortar stores.

Augusta Leading Economic Index (Augusta LEI) is a monthly composite index that combines several national, regional and local indicators into a single variable. Leading indexes combine variables that change before business cycle variables such as employment changes. Leading indexes may, therefore, indicate changes that could occur in the economy. Leading indexes are not forecasts or predictions about the future, but may signify future economic activity.

The Augusta LEI may, therefore, provide local decision makers with timely information about future business cycle patterns in the Augusta area. The Augusta LEI uses economic indicators for the Augusta Metropolitan Statistical Area (MSA), which includes six counties (i.e., Burke, Columbia, McDuffie, and Richmond counties in Georgia, and Aiken and Edgefield counties in South Carolina).

The index also includes regional and national indicators to reflect that national trends affect the local economy. The index is constructed in the same way that the Conference Board constructs the Leading Economic Index for the United States.

TAX CHANGES IN CSRA

Effective January 1, 2013 the Social Security tax rate will rise from 4.2% to 6.2% on employee withholding.  The employer matching will remain unchanged at 6.2%.

Mileage rates increase to 56.5 cents per mile effective January 1, 2013.

As a result of the T-Splost vote, sales tax rates have changed in the CSRA
Please be aware that some counties that were previously taxed at 7% have gone up to 8%.

Information Courtesy: The Cleveland Group

SALES TAX RATE TO INCREASE TO 8% AS OF JANUARY 1st

AUGUSTA, Ga., Dec. 27, 2012 – Effective January 1, 2013, the tax rate for Richmond County will increase by 1 cent from 7% to 8% due to the passage of the Special District Transportation Sales and Use Tax 2013 (TSPLOST).The voters in our district passed the tax on July 31, 2012.  Effected Georgia counties include:

Appling, Bleckley, Burke, Candler, Chattahoochee, Clay, Columbia, Crisp, Dodge, Dooly, Emanuel, Evans, Glascock, Hancock, Harris, Jeff Davis, Jefferson, Jenkins, Johnson, Laurens, Lincoln, Macon, Marion, McDuffie, Montgomery, Muscogee, Quitman, Randolph, Richmond, Schley, Stewart, Sumter, Talbot, Taliaferro, Tattnall, Taylor, Telfair, Toombs, Treutlen, Warren, Washington, Wayne, Webster, Wheeler, Wilcox, and Wilkes.

GIVE IT UP FOR GOODWILL: CELEBRATE THE SEASON WITH AN END-OF-YEAR TAX WRITE-OFF

Augusta, GA – The holiday season leave your wallet a bit lighter? You can get a little money back from Uncle Sam by donating gently used clothing and other household items to Goodwill Industries for an end-of-year tax write-off. Your donation will help local citizens become self-sufficient.

 

By cleaning your closets and garages, and “Give it up for Goodwill,” you get more than a tax deduction. Goodwill uses the revenue from your donations for education and career services for people with disabilities and disadvantages such as welfare dependency, homelessness, and lack of education or work experience. 82 cents of every dollar earned via the sale of your donations, funds job training and placement services for individuals with barriers to employment.

 

“Celebrate this holy season and start the new year off right by giving the gift of hope,” says James K. Stiff, President and CEO of Goodwill Industries of Middle Georgia and the Central Savannah River Area. “Every donation to Goodwill helps make 2013 a better year for thousands of individuals who need a hand-up through Goodwill’s job training and career development services.”

 

Goodwill accepts household items, toys, clothing – even those holiday gifts that weren’t quite right. Don’t re-gift it. Give it to Goodwill. Donations are sold in retail stores in Middle Georgia and the Central Savannah River Area to underwrite services to people who need Goodwill’s help to start their new year moving forward in a new direction.

 

Donors interested in claiming tax deductions should keep itemized lists of their donations. The Internal Revenue Service allows a deduction for each item, but the donor determines each item’s value. Generally, an item’s value should be based on fair market value – what the item would sell for in a retail store like Goodwill. Goodwill provides receipts to donors at its drop-off sites, and attendants can validate itemized lists when they are presented.

 

For information regarding taxes and your donation, visit: http://www.goodwillworks.org and click on the Donate page.

 

Goodwill makes end of the year donations easy with our convenient drive thru drop-off centers. Donate now to avoid the long lines on New Year’s Eve.

 

Convenient Drop-off Locations:

Aiken Retail Store

1015 Pine Log Road

Aiken, South Carolina

(803) 644-4601

Mon – Sat 9:00am – 8:00pm

Sun 12:00pm – 6:00pm

 

Augusta Retail Store

3179 Washington Road

Augusta, GA 30907

(706) 863-3445

Mon – Sat 9:00am – 8:00pm

Sun 12:00pm – 6:00pm

 

Augusta Attended Donation Center

Augusta Exchange

Corner of Robert C Daniel Jr Pkwy & Agerton Ln

Target Shopping Center

Sun – Sat 9:00am – 6:00pm

 

Evans Attended Donation Center

Regions Bank

4385 Washington Rd

Sat – Sun 9:00am – 6:00pm

 

Grovetown Attended Donation Center

Gateway Center

Wal Mart Parking Lot

Next to 123 Furnish

Sat – Sun 9:00am – 6:00pm

 

Martinez Retail Store

4074 Washington Road

Martinez, Georgia

(706) 855-8559

Mon – Sat 9:00am – 8:00pm

Sun 12:00pm – 6:00pm

 

South Augusta Retail Store

3120 Peach Orchard Road

Augusta, Georgia

(706) 790-3800

Mon – Sat 9:00am – 8:00pm

Sun 12:00pm – 6:00pm

ASU ECONOMIC INDEX UNCHANGED—QUESTIONS ON THE HORIZON

As we head into the New Year, here a few economic indicators I will be looking at to assess the state of the local economy; Housing Market: There seems to be some movement here with prices for sold houses generally higher in 2012 than 2011 by 2-4%. Houses are also generally staying on the market for fewer days before being sold.

2. TEE Center: There are currently about a dozen booked events at the TEE center. More bookings would indicate an improvement in the economy overall and also have a local impact. Georgia Regents University enrollment: Overall enrollment in the University System of Georgia is down (1.2%), but what will be the effect of the consolidation of ASU and GHSU be locally in terms of attracting students?

1. About the Index The Augusta Leading Economic Index (Augusta LEI) is a monthly composite index that combines several national, regional and local indicators into a single variable. Leading indexes combine variables that change before business cycle variables such as employment changes. Leading indexes may, therefore, indicate changes that could occur in the economy. Leading indexes are not forecasts or predictions about the future, but may signify future economic activity.

The Augusta LEI may,therefore, provide local decision makers with timely information about future business cycle patterns in the Augusta area. The Augusta LEI uses economic indicators for the Augusta Metropolitan Statistical Area (MSA), which includes six counties (i.e., Burke, Columbia, McDuffie, and Richmond counties in Georgia, and Aiken and Edgefield counties in South Carolina).

The index also includes regional and national indicators to reflect that national trends affect the local economy. The index is constructed in the same way that the Conference Board constructs the Leading Economic Index for the United States.

GIVE IT UP FOR GOODWILL: CELEBRATE THE SEASON WITH AN END-OF-YEAR TAX WRITE-OFF

Augusta, GA – The holiday season leave your wallet a bit lighter? You can get a little money back from Uncle Sam by donating gently used clothing and other household items to Goodwill Industries for an end-of-year tax write-off. Your donation will help local citizens become self-sufficient.

By cleaning your closets and garages, and “Give it up for Goodwill,” you get more than a tax deduction. Goodwill uses the revenue from your donations for education and career services for people with disabilities and disadvantages such as welfare dependency, homelessness, and lack of education or work experience. 82 cents of every dollar earned via the sale of your donations, funds job training and placement services for individuals with barriers to employment.

“Celebrate this holy season and start the new year off right by giving the gift of hope,” says James K. Stiff, President and CEO of Goodwill Industries of Middle Georgia and the Central Savannah River Area. “Every donation to Goodwill helps make 2013 a better year for thousands of individuals who need a hand-up through Goodwill’s job training and career development services.”

Goodwill accepts household items, toys, clothing – even those holiday gifts that weren’t quite right. Don’t re-gift it. Give it to Goodwill.  Donations are sold in  retail stores in Middle Georgia and the Central Savannah River Area to underwrite services to people who need Goodwill’s help to start their new year moving forward in a new direction.

Donors interested in claiming tax deductions should keep itemized lists of their donations.  The Internal Revenue Service allows a deduction for each item, but the donor determines each item’s value. Generally, an item’s value should be based on fair market value – what the item would sell for in a retail store like Goodwill. Goodwill provides receipts to donors at its drop-off sites, and attendants can validate itemized lists when they are presented.

For information regarding taxes and your donation, visit: http://www.goodwillworks.org and click on the Donate page.

Goodwill makes end of the year donations easy with our convenient drive thru drop-off centers.  Donate now to avoid the long lines on New Year’s Eve.

Convenient Drop-off Locations:

Aiken Retail Store

1015 Pine Log Road

Aiken, South Carolina

(803) 644-4601

Mon – Sat 9:00am – 8:00pm

Sun 12:00pm – 6:00pm

 

Augusta Retail Store

3179 Washington Road

Augusta, GA 30907

(706) 863-3445

Mon – Sat 9:00am – 8:00pm

Sun 12:00pm – 6:00pm

 

Augusta Attended Donation Center

Augusta Exchange

Corner of Robert C Daniel Jr Pkwy & Agerton Ln

Target Shopping Center

Sun – Sat 9:00am – 6:00pm

 

Evans Attended Donation Center

Regions Bank

4385 Washington Rd

Sat – Sun 9:00am – 6:00pm

 

Grovetown Attended Donation Center

Gateway Center

Wal Mart Parking Lot

Next to 123 Furnish

Sat – Sun 9:00am – 6:00pm

 

Martinez Retail Store

4074 Washington Road

Martinez, Georgia

(706) 855-8559

Mon – Sat 9:00am – 8:00pm

Sun 12:00pm – 6:00pm

 

South Augusta Retail Store

3120 Peach Orchard Road

Augusta, Georgia

(706) 790-3800

Mon – Sat 9:00am – 8:00pm

Sun 12:00pm – 6:00pm

About Goodwill Industries of Middle Georgia & the Central Savannah River Area:

Goodwill Industries of Middle Georgia and the Central Savannah River Area (CSRA) provides education, career development services, job skills training and post-employment support for individuals with disabilities or other  barriers to employment.  82 cents of every dollar raised in Goodwill training stores underwrites job training and placement services within the agency’s 35-county service delivery area.

Over the past year, Goodwill Industries of Middle Georgia and the CSRA has placed 2,781 people into jobs and offered career development services to over 15,000 individuals.  Over the past five years, Goodwill Industries of Middle Georgia and the CSRA has placed 9,836 people in jobs, creating more than $287 million in estimated annual economic impact.

To learn more about services and individuals served by Goodwill of Middle Georgia and the CSRA, visit our website at www.goodwillworks.org.

EXPECTATIONS FOR FISCAL 2013

The fiscal 2013 preliminary budget projects a $4 million shortfall, equal to approximately 3% of budgeted spending. Management has therefore included a $4 million fund balance appropriation to address the funding gap. The budget gap stems from employee pay increases, unfunded and

mandated judicial positions, and the loss of one-time revenue sources such as land sales. The 2% employee pay increase (approximately $750 salary increase per employee) is the first raise in three years. The proposed salary increase will impact the general fund by approximately $750,000 when

including benefits associated. Officials are expecting a 1 mill increase in the ad valorem rate (generating $4 million) to offset these recurring expenditures. Although the imbalance is a moderate

concern, Fitch believes that management has the ability to correct the gap moving forward. Historical trends have shown that the government typically does not use the full amount. Management expects to maintain compliance with its financial policies by preserving unassigned fund balance levels in the range of 20% of general fund spending.